Active ETFs
Feature active management, which means a manager (or team) selects fund holdings using an investment strategy, to pursue better-than-market outcomes for investors. Like passive ETFs, active ETFs can offer broad diversification to the overall market or a specific sector, or they may be thematic (designed to express a particular market viewpoint or focus on a specific investment objective). Generally, active ETFs are available in three different structures: transparent, semi-transparent, or non-transparent.